SMART Enterprise Project Portfolio Management

Overview

Project Portfolio Management helps organizations gain visibility and control across all work, enhancing decision-making, improving alignment with business strategy, maximizing resource utilization, and enhancing project execution to optimize ROI.

In order for organizations to successfully compete globally, they must both select the correct project portfolio and execute their programs and projects effectively.

Project Selection Challenges

Organizations often identify numerous project ideas, but fail to capture project information in a central location and complete the necessary business cases for each project. In some organizations, projects are selected without a clearly defined analysis process or selection criteria.

Project Tracking Barriers

Identifying the total number of active projects and their status within the company portfolio is difficult or cumbersome. Resource allocation in many organizations is either performed ad hoc, or in an inefficient and imprecise manner.

Capturing and accurately allocating project costs, especially internal labor, is sometimes not even attempted due to difficulties in user adoption. For many organizations, project, program, and portfolio reporting is manually intensive, delayed, and subject to error.

Obstacles in Project Collaboration and Management

Collaboration among project team members is often ad hoc and usually involves unstructured management of issues, risks, action items, and document review processes. Project management practices are often not utilized consistently across an organization, and program tracking often involves labor-intensive, manual roll-up efforts.